Have gold bought before 2017? It might now be a smart trade

IN AUGUST THAT YEAR, A GRAM OF GOLD COST DH150 — TODAY IT’S ALMOST DH400

- BY MANOJ NAIR

The UAE's gold trade is responding to the highest prices in history by urging shoppers to “upgrade” - bring in old jewellery and exchange it for new collections.

Such trades benefit both shoppers and retailers.

Shoppers should check whether they own any piece of jewellery weighing 10 grams or more purchased before August 31, 2017. That was the day the Dubai gold rate first crossed Dh150 per gram for 22 carats. Any jewellery bought earlier would have cost less, meaning an exchange today would yield a minimum gain of Dh243 per gram.